Volkswagen is aiming for a $70.1 billion to $75.1 billion valuation for sportscar automaker, Porsche. Volkswagen, the parent company of Porsche, had been expected to make an announcement on the price range later this month or in early October. In 2011, Volkswagen and Porsche merged, and Porsche was given a...
Federal Express has withdrawn its full-year guidance amid much weaker first-quarter earnings and revenue. The company has announced that it is also cutting costs after the global volume of shipments was softer than expected. As part of its measures to slash expenses, FedEx plans to close 90 of its offices...
According to the Bureau of Labor Statistics, the consumer price index, or CPI increased 0.1 percent last month. The index is a chief inflation indicator and measures how much the prices of goods or services change from month to month. When energy and food are excluded, the inflation gauge...
On Monday, Google unveiled its new spin-off, Aalyria, formally a secret project that the multinational technology company says “radically” makes satellite communications, cellular connectivity, and Wi-Fi on ships and planes, even better. Google’s techs have been working on the software that enhances land-to-space high-speed communication networks.  The project was given...
Shares of gunmaker Smith & Wesson slipped on Friday after the company’s quarterly report showed that its profit was lower than last year at the same time. Mark Smith, CEO of Smith & Wesson acknowledged that the gun industry had its first summer downturn in three years, calling it...
On Tuesday, U.S. Treasury Yields rose higher as investors cheered the release of strong economic data. The 10-year Treasury yield rose to a daily high of 3.353 percent, adding around 16 basis points. The benchmark finally settled around 3.347 percent towards its highest close since the middle of June. Meanwhile, the...
CVS plans to acquire Signify Health in a cash deal which will allow the pharmaceutical giant to buy the healthcare platform at $30.50 per share. The $8 billion deal will help CVS build on its aspirations to delve deeper into the healthcare industry. Signify offers virtual and in-person home...
The social media and camera company, Snap, announced that it will be letting go 20 percent of its 6,000-plus workers as part of its plans to restructure its business. The announcement was made by Snap CEO Evan Spiegel through an office memo to the company’s employees telling them that...
July's Job Openings and Labor Turnover Survey (JOLTS) showed the total number of open job positions sat at 11.24 million, almost one million more openings than was expected and 200,000 more than June’s number of available jobs. JOLTS is compiled by the Bureau of Labor Statistics and the U.S....
On Friday, stocks fell sharply after Jerome Powell said that the central bank would continue its fight against inflation.  The Dow Jones Industrial Average closed Friday’s session 1,008.38 points lower to 32,283.40, marking a 3.03 percent decline. Meanwhile, the S&P 500 ended the session at 4,057.66 after losing 141.46 points...